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Safehold Arranges $26.5M Ground Lease for Multifamily Development in South Salt Lake, Utah

Safehold-Abstract-South-Salt-Lake-UT.jpg

The new multifamily project in South Lake City, Utah, will offer 180 residences.

SOUTH SALT LAKE, UTAH — Safehold (NYSE: SAFE) has arranged a $26.5 million ground lease to facilitate the ground-up development of One Burton, an apartment community in South Salt Lake’s new downtown district.

Abstract Development Group, an affiliate of a New York-based multifamily real estate owner, will develop the 180-unit community within a Qualified Opportunity Zone.

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